If you control a white permanent, View from Above moves from the stack to your hand as part of its resolution. It never hits the graveyard. If you don’t control a white permanent, View from Above is put into the graveyard from the stack as normal.

2/1/2009

If View from Above doesn’t resolve for any reason (for example, if its target has become illegal), none of its effects happen. It will be put into your graveyard as normal.